26 October 2020
Since 2017, as part of the new procurement requirements, central government suppliers must send electronic invoices. There are several advantages to sending an e-invoice. Hence, the government also introduced the procurement terms and conditions and involved the business community. In this blog, you can learn more about the benefits and opportunities of e-invoicing for your business.
What is an E-Invoice?
The government now only accepts electronic invoices, but what does that really mean? No more PDFs by email in any case (still prefer to send a pdf?).
An e-invoice is a digital invoice with a fixed structure. This ensures that data always has a fixed place and its own meaning. However, an e-invoice must meet the same requirements as a paper invoice.
UBL (Universal Business Language) is the standard format for e-invoices. This is a .xml file that allows invoice data to be sent from one accounting package to another accounting package. This does not require manual entry.
How Do I Send an E-Invoice?
At TIE Kinetix, you can e-invoice in three different ways, suitable for large companies, as well as small and medium-sized enterprises.
To exchange e-invoices, and other e-procurement messages, with (international) government agencies and companies, the PEPPOL network must be used. The management and maintenance of PEPPOL lies with OpenPEPPOL. This international foundation is the coordinator of the international agreement system and the manager of the various standards and building elements that make the infrastructure possible. OpenPeppol delegates its tasks to a National PEPPOL Authority
Previously, the Dutch PEPPOL authority was Stichting Simplerinvoicing. At the end of 2019, this changed. The ever-increasing infrastructure of Simplerinvoicing made security, reliability and interoperability increasingly important.
These interests were safeguarded by commercial market parties. The Dutch government could no longer afford this, as these market parties had partial interests that did not sufficiently align with public interests.
Therefore, the decision was made to reposition the PEPPOL authority into a new organization: the Dutch PEPPOL Authority (NPA). As of October 1, 2020, this role has been formally taken over from Stichting Simplerinvoicing. TIE Kinetix offers you the possibility to send e-invoices, and other e-procurement messages, directly via the PEPPOL Access point to CoC and OIN numbers. Both between companies (B2B), and between companies and government agencies (B2G).
What is an OIN Number?
OIN stands for the Organization Identification Number. The OIN number is a unique number that can be assigned to organizations. It allows them to identify, authenticate and/or authorize themselves in digital messaging with and within government.
Do you want to send an e-invoice to the central government? Then you must have the OIN number of the relevant government department.
Benefits of E-Invoicing
E-invoices are received and processed faster, resulting in e-invoices being paid on average seven days earlier than a paper invoice.
The system checks the IBAN, VAT, Chamber of Commerce, and OIN number. This immediately intercepts phantom invoices and prevents duplicate invoices.
Additionally, TIE Kinetix also offers the possibility of digital archiving of your documents: e-archiving. This ensures that all your electronic documents are stored in a secure environment. The original version is never changed and can only be accessed by the owner or recipient of the document.
You quickly have up-to-date information
Incoming and outgoing invoices are in your accounting records much faster, so you always have instant insight into your financial situation.
E-invoicing saves time
Automatic entry reduces the need for human intervention. Plus, invoicing is done electronically, so the e-invoice is received directly in the accounting system.
E-invoicing ensures accurate handling
Because there are fewer steps to send and process e-invoices, the chances of errors are automatically reduced.
E-invoicing is environmentally friendly
If you switch from paper invoices to e-invoices, you will use a lot less paper, contributing to a better environment. And this is just the tip of the iceberg. In fact, e-invoicing contributes to a sustainable supply chain strategy.
You save costs
By switching to e-invoicing, you can save considerable costs. This not only applies to costs such as ink, paper, and printers, but you can also save on labor costs.
Switching to e-invoicing is a positive change for any company. Fortunately, TIE Kinetix has several e-invoicing options at your disposal. This allows you to set up your invoicing process according to the wishes and needs of your company.